NEWS FLASH

***NEW*** GULF COOPERATION COUNCIL (GCC) COVERAGE ADDED TO GLOBALSOURC...

Country Insights

Gsp in brief thumbnail
Russia is de-centralizing national projects
RUSSIA / FSU POLITICS - In Brief 16 Jul 2019
On July 15 Prime Minister Dmitry Medvedev announced that he wished to transfer decision making on the 12 national projects to independent committees. Until now decision about the national projects had been made by the Presidium of the Council on Strategic Development and National Projects. This o...

Gsp in brief thumbnail
Rosneft asks for huge tax break for Arctic exploration
RUSSIA / FSU POLITICS - In Brief 16 Jul 2019
Igor Sechin (CEO of Rosneft) wrote to President Putin requesting an enormous tax break to enable his company to develop oil production in the Arctic Circle. Rosneft estimates it will spend anywhere between USD 80 billion and 135 billion. The tax exemption requested is worth about USD 41 billion. ...

Gsp in brief thumbnail
Turkey buys Russian missile defense system - weakens NATO
RUSSIA / FSU POLITICS - In Brief 13 Jul 2019
Turkey has received the first parts of the Russian S-400 missile defense system. The US lobbied very hard against Turkey purchasing this system. The Turks also want to buy American F-35 fighter planes. The US is deeply worried that Turkey might allow the Russians to examine F-35 planes to assess ...

Gsp in brief thumbnail
Zelenksy's party cruising to victory in Ukraine, as he speaks with Putin
RUSSIA / FSU POLITICS - In Brief 11 Jul 2019
President Zelensky's party 'Servant of the People' is set to win easily in elections to the Ukrainian Rada (Parliament). An analysis of the various opinion polls shows that Servant of the People is due to score 47% of the vote. In second place Opposition Platform - For Life us due to win about 11...

Gsp in brief thumbnail
Rumor that Russian domestic shopping company will split
RUSSIA / FSU POLITICS - In Brief 10 Jul 2019
Two years ago Sberbank and Yandex formed a partnership to promote e-commerce. They created an online market called Beru. Their platform for buying imported goods is called Bringly. Sberbank now considers this a failure but the decision to terminate the partnership is not yet final. In August 2017...

Gsp in brief thumbnail
Russian PM says yes to road to Kazakhstan
RUSSIA / FSU POLITICS - In Brief 09 Jul 2019
A new road called the Meridian Highway has been given the go ahead by Russian Prime Minister Medvedev. This will be a toll road that will run from the EU across Russian territory en route to Kazakhstan. The 2000 km long road will start in Belarus. The total cost is estimated at USD 9.4 billion by...

Gsp in brief thumbnail
Russian budget execution being reformed
RUSSIA / FSU POLITICS - In Brief 07 Jul 2019
The Ministry of Finance suggested that a proper treasury payment system be introduced. This shall shift all budget transactions from ministries, regions and so on to the treasury. The aim is to move to a system of uniform accounting in the budget system. There are over 50 000 government accounts ...

Gsp in brief thumbnail
Russian coal exports in decline
RUSSIA / FSU POLITICS - In Brief 06 Jul 2019
Coal is one of Russia's many mineral resources. Exporting coal matters to the Russian economy though not as much as oil and gas. Coal exports to the EU are down sharply. To make it worse the world price is falling. A mild winter, green taxes and better fuel efficiency have all contributed to this...

Gsp in brief thumbnail
Detente in Ukraine
RUSSIA / FSU POLITICS - In Brief 05 Jul 2019
The past week has seen a reduction in tensions in Ukraine. The Ukrainian Government and the pro-Russian rebels have agreed to pull back from the front line near Stanytsia Lushanska. This is in the Donbass Region. Ukraine has previously agreed to such pullbacks in other areas but such deals quickl...

Gsp in brief thumbnail
Russia persuades OPEC to cut production
RUSSIA / FSU POLITICS - In Brief 03 Jul 2019
On July 1 OPEC + decided to prolong its production cut. The reduced production agreement will now last 9 months into 2020.At the G20 meeting in Osaka, Japan the Russian Government declared its intention to reduce oil production.Since December 2016 Saudi Arabia and Russia have agreed production cu...

Gsp in brief thumbnail
Russian growth at a snail's pace
RUSSIA / FSU POLITICS - In Brief 26 Jun 2019
In May 2019 growth was only 0.2% Y o Y. This is eight and a half times lower than April's annual growth. A new head of Rosstat (the Russian Statistical Agency) was appointed a few months ago to provide more accurate statistics. Unfortunately these statistics are too accurate and are acutely embar...

Gsp in brief thumbnail
Unrest in Georgia leads to flight ban by Russia
RUSSIA / FSU POLITICS - In Brief 22 Jun 2019
On June 20 serious disturbances erupted in Georgia. A Russian politician named Sergei Gavrilov was invited to Georgia as part of an official Russian delegation. He was addressing a conference for Orthodox Christian countries. Some Georgians objected to the Russian politician's presence especially...

Gsp in brief thumbnail
Putin's Direct Line shows concern over living standards
RUSSIA / FSU POLITICS - In Brief 21 Jun 2019
On June 20 President Putin did his annual direct line. Anyone was able to call and question him. This has always transfixed the nation. The president fielded calls about Ivan Golunov. Golunov is the investigative journalist who was a victim of the police fabricating evidence against him. The pres...

Gsp in brief thumbnail
Duma trying to outlaw foreign capital payment processing
RUSSIA / FSU POLITICS - In Brief 18 Jun 2019
The Duma (Russian Parliament) is proposing a ban on Russian companies collaborating with payment processing companies that operate with foreign capital. This has caused consternation in the banking sector. The CBR has not commented officially but in private the CBR is known to be opposed. But pol...

Gsp in brief thumbnail
CBR wishes to cut welfare spending
RUSSIA / FSU POLITICS - In Brief 18 Jun 2019
Russian National Welfare Fund (NWF) is supposed to get to 7% of GDP by the end of 2019. Once it does the government can spend savings on other projects. NWF is worth USD 59 billion. It is projected to reach USD 129 billion by December this year. Earnings from oil over USD 41.6 per barrel go to th...